Senior Life Insurance in Madison
Want to buy life insurance but aren’t sure which plan you should choose? Speak with our life insurance specialists in Madison today. We take your unique situation into account in order to locate the option that will work best for you. Add some extra stability to your future by contacting us today.
What’s senior life insurance?
In a senior life insurance policy, an agreement is made between an insurance company and a customer. The policyholder agrees to pay a specified amount of money at scheduled intervals, which is called a “premium”. In return, the company agrees to pay a lump sum to a designated beneficiary under certain circumstances (usually the policyholder’s death).
What is the difference between term & universal life insurance?
Term life insurance is linked to a specified time period, relating to both the premium payments and the payout.
Universal or whole senior life insurance is permanent, guaranteed for the entire duration of the owner’s life. If correctly set up, whole or universal senior life insurance plans can provide quick access to needed funds, while providing tax-advantaged growth of wealth.
You can find benefits to both kinds of senior life insurance. Speak with our senior life insurance professionals in Madison to learn about the best solution for you.
What are the financial benefits of owning a senior life insurance policy as opposed to investing in other ways?
The benefits and disadvantages each investment program will be unique to you, depending on your financial situation. This is why selecting a financial professional is a necessity.
Who needs senior life insurance?
All adults, no matter how old they are, have a need for senior life insurance.
Why should everyone buy senior life insurance?
- Provide a way for your family to pay for funeral expenses.
- To pay for the expense of children still living at home.
- Pay off debts that have been left behind, such as mortgages.
These only represent a few of the reasons why you need senior life insurance. Talk to a Retirement Income Strategies senior life insurance professional today to learn more.